Regardless of what industry you are in, business broadband is the lifeline of any modern company. From retail stores to coffee shops or marketing agencies, having a reliable Internet connection nowadays is non-negotiable.
But the thing is, broadband bills can start to add up very quickly. This is especially true if you aren’t aware of what you’re getting compared to what you’re paying for.
7 Ways To Save Money On Business Broadband
Fortunately, it’s very possible to save money without having to sacrifice on speed or reliability. It just takes a little know-how to keep your costs down while still keeping your team or staff connected.
1. Shop Around When Your Contract Expires
You aren’t tied to a specific broadband contract forever and it’s common for spikes in your rates after the initial contract ends, sometimes without you even realising it.
About a month or two before it’s due to end, it’s a good idea to shop around and compare deals to see which one can give you the best value for money.
2. Determine Your Needs And Usage
In most cases, you’ll often end up paying for more than what you actually need. Most business owners make the mistake of signing up for the top broadband package with the assumption that faster is always better.
However, if you’re not actually running data-intensive applications, you could actually be overpaying. If you have a small business with ten or less staff, a 100-200Mbps connection is usually sufficient enough.
3. Learn How To Negotiate
Just like your phone bill, you can negotiate when it comes to broadband. You can let your service provider know that you are exploring other options with better packages or more affordable rates and see if they can match or beat the deals you found.
It’s usually the retention or cancellations team that hold the most power when it comes to discounts, so those are the ones you want to speak to when negotiating a better deal.
4. Bundle Your Services
Broadband providers will often sell bundle options where you can get broadband, cloud storage, e-mail and mobile all in one package. If you already use all of these services, then it makes sense to take the bundle as it can save you money.
With that said, bundles are also an easy trap to get you to sign up for things that you don’t even use. So before you agree to it, calculate the individual cost of each service compared to the bundle total and see which one would benefit you more.
5. Avoid Long-Term Contracts If Possible
It may sound convenient to go with a contract spanning multiple years but the reality is, you’ll face outdated pricing and technology down the line.
If you know that your business is growing very quickly or even downsizing, it may be worth your while to take out a 12-month contract or rolling monthly plans. These are pricier but they have more flexibility if you want to switch to cheaper options when they come available.
6. Claim Tax Deductions For Broadband Usage
Business broadband is tax-deductible if you are a sole trader or a small limited company and you should take full advantage of that.
It may not be a direct saving off your monthly bill but it does play a role in reducing your overall business tax liability. When you file your taxes, you can log it as a business expense but remember to separate it from personal use if you work from home.
7. Use A Backup Internet Option Then Downgrade The Primary Plan
It may sound silly paying for two Internet options but if you downgrade the main broadband plan and then use a 4G or 5G backup router for data-heavy activities like video calling, it can actually save you money.
This is suitable for freelancers who work in a co-working space or smaller shops that only need the Internet during their business hours.
Saving With Speed Guarantees And SLAs
Another way to check if you are getting value for money with your existing provider is to have a look at the Service Level Agreement (SLA) that comes with your broadband plan.
These are guarantees from your provider regarding speeds and uptime and if there aren’t any SLAs, you could be paying for an unreliable service and need to look elsewhere.
Even if you need to switch to another plan that has clear guarantees, it can still save you money in downtime in the long run.
